Maurel & Prom have chosen consultancy firm Progressive TSL’s specialist team to implement finance and asset management solutions underpinned by the Progressive TSL’s oil and gas framework to support their company’s plans for growth
Maurel & Prom, an oil and gas exploration and production company, holds a significant stake in SEPLAT, one of Nigeria’s leading oil and gas operators.
The exploration company acknowledged that its existing, highly customised accounting system could not support their business growth plans.
Critical criteria for their new system include a future-proof standard solution that was flexible to configure, enabling rapid implementation and easy roll-out of new acquisitions.
Progressive TSL’s proposed implementation of Infor SunSystems, Infor EAM (Enterprise Asset Management), Infor OS (IOS) and the Unity integration suite met all these criteria.
Patrick Deygas, chief financial officer for the exploration company, said, “Sun Systems is a standard solution for mid-sized E&P companies. Progressive TSL has had vast experience implementing Infor SunSystems at other companies in our sector, including our partners SEPLAT”.
“With Progressive TSL, we are not starting from scratch. We have benefited from their best practice frameworks, tailored to our industry, to support key aspects of our business, such as joint venture accounting and profit sharing. They understand the nuances of the accounting standards in the regions we trade. Progressive are of a compatible size to Maurel & Prom and are able to work alongside our team in Paris providing hands-on support during the implementation,” he added.
Progressive’s twelve-month implementation of the Infor centred solution is planned to go live at the end of 2019.
This first stage will cover the exploration company’s operations in Paris, Gabon and Tanzania, and their drilling subsidiary Caroil, in one single integrated system. There are also plans to roll out this solution to other countries within Maurel & Prom’s portfolio in Africa, North and Latin America.